OPENLANE, Inc. (NYSE:KAR) Stock Holdings Raised by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. lifted its stake in shares of OPENLANE, Inc. (NYSE:KAR) by 14.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,441,923 shares of the specialty retailer’s stock after purchasing an additional 181,130 shares during the period. D. E. Shaw & Co. Inc. owned about 1.33% of OPENLANE worth $23,922,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Sunriver Management LLC lifted its holdings in OPENLANE by 729.7% during the 4th quarter. Sunriver Management LLC now owns 2,338,093 shares of the specialty retailer’s stock worth $34,627,000 after buying an additional 2,056,280 shares during the last quarter. Invenomic Capital Management LP boosted its holdings in OPENLANE by 277.0% in the first quarter. Invenomic Capital Management LP now owns 1,529,680 shares of the specialty retailer’s stock worth $26,463,000 after purchasing an additional 1,123,953 shares during the period. Norges Bank bought a new stake in OPENLANE during the fourth quarter valued at $10,426,000. CenterBook Partners LP bought a new stake in OPENLANE during the fourth quarter valued at $4,069,000. Finally, Burgundy Asset Management Ltd. raised its holdings in shares of OPENLANE by 2.8% during the fourth quarter. Burgundy Asset Management Ltd. now owns 8,690,866 shares of the specialty retailer’s stock worth $128,712,000 after purchasing an additional 236,138 shares during the period. 99.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $25.00 price target on shares of OPENLANE in a report on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $19.60.

OPENLANE Stock Performance

KAR stock opened at $16.77 on Friday. OPENLANE, Inc. has a 1 year low of $12.86 and a 1 year high of $18.73. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -9.37, a PEG ratio of 1.73 and a beta of 1.44. The stock’s fifty day moving average is $17.07 and its two-hundred day moving average is $17.08.

OPENLANE (NYSE:KAR) last issued its quarterly earnings data on Wednesday, August 7th. The specialty retailer reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.02). The firm had revenue of $431.80 million during the quarter, compared to the consensus estimate of $426.11 million. OPENLANE had a net margin of 3.39% and a return on equity of 7.85%. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.25 earnings per share. As a group, analysts predict that OPENLANE, Inc. will post 0.78 EPS for the current fiscal year.

About OPENLANE

OPENLANE, Inc, together with its subsidiaries, operates as a digital marketplace for used vehicles, which connects sellers and buyers in North America, Europe, the Philippines, and Uruguay. The company operates through two segments, Marketplace and Finance. The Marketplace segment offers digital marketplace services for buying and selling used vehicles.